The old Saleen S7 was a proper mid-engined beast that was produced from 2000 through 2009. As Steve Saleen put it, the S7 was "America's only true supercar." Well Saleen fans, rejoice: The S7 is coming back.

To commemorate the company's 20th anniversary of a seven-year run of racing championships, Saleen plans to build a limited-edition model of the S7 dubbed the S7 LM. Only seven units will be made featuring bespoke liveries, interiors, wheel designs, and performance enhancements. The Saleen Owners and Enthusiasts Club reports that the upcoming supercar will have exposed carbon fiber, advanced electronics, and a 1,000-horsepower powertrain.

The S7 LM will use the same twin-turbocharged 7.0-liter V8 engine as the S7 Twin Turbo model (2005-09). But power will be increased from 750 horsepower to a Ferrari LaFerrari-beating 1,000 horsepower. The Saleen club also reports that the S7 LM will have an estimated price tag of $1 million.

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With Saleen's recent and continued financial woes, it's hard not to be skeptical. What started out as a company that once tuned Ford Mustangs, and more recently Tesla Model S sedans, made one of the craziest supercars of all time and had plans to make a softer, more affordable supercar with the S5S Raptor. The S5S Raptor, which was unveiled at the 2008 New York Auto Show never saw the light of day as the company ran into financial trouble shortly after.

The current Saleen Automotive company was formed in 2011, which was followed by a high-profile court battle that saw Saleen re-aquire the rights to the Saleen name in 2012. Since then, the company has been involved in numerous lawsuits and at one point, claimed that it had just $7,261 in cash on hand a few years ago. More recently, GA Global Partners auctioned off all of the assets and intelectual property for the Saleen S7, S7R and S5S Raptor. Saleen apparently secured the rights to the S7 again. There's no word on when the S7 LM will be revealed.